Refinancing in Colorado
There are several reasons to refinance in Colorado. Some benefits of a refinance include: lower monthly payments, lower interest rates, a shortened mortgage, or cash back. However, there are a number of factors, such as interest rates and other mortgage options, to keep in mind when considering whether or not to refinance in Colorado.
Some popular mortgage loan options in Colorado are:
- Fixed Rate Mortgages - a Fixed Rate Mortgage has a set rate set for a specific period of time (usually 30 years).
- Adjustable Rate Mortgages - an Adjustable Rate Mortgage has a low rate for a specific period of time (usually 1 -7 years), and the rate increases annually after the initial period.
- Hybrid Mortgages - a Hybrid Mortgage combines the principles of Fixed Rate and Adjustable Rate Mortgages. The rate is set for a specific period of time and then adjusts annually; however, the initial rate is typically not as low as it would be with an Adjustable Rate Mortgage.
If you are considering to refinance your current loan, we suggest you research all of your options online. As you research your refinance options in Colorado, you will want to consider the different types of mortgages available to you. Take note of the speed with which a company responds to your inquiries and the degree of detail a company provides on a closing-cost estimate.